May 12, 2009
The question is not how or if to control short sales. The question is why have short sales at all? Stability in the market, true reflection of a stocks (company's) value is in actual selling and holding of stocks...and is that not what the market should be about? Short Selling is a leveraged gamble on the future. Stock ownership should be a 100% buy of a certificate by funds tendered. Why provide for those who make money from the exhange rather than the actual ownership (investment in...) of the stock. What is the reason we have an agency to oversee the operation of the market, such as the SEC? Is the mission of the SEC to provide for additional sources of revenue for those employed by the market? A mission to provide a unrealistic, untimely view of a company? I think the mission should be to oversee the market for stocks, not create revenue streams. The stock and/or the market should be a real picture of the stockholders view of a company. Of course, there is not one glimmer of hope for those who will make this decision to make one in favor of the stockholders or the industry, it will be made in favor of those employed by the "money grabbers."